November is Long Term Care Awareness Month.  I'm quite certain that the majority of you reading this were not aware of it or if you were, paid it little or no attention.  It seems like every month, or even week, is "Something or Other" Awareness time.  Some of these causes are widely recognizable, such as the recent Breast Cancer Awareness Month (BCAM)in October.  With sponsors like Estee Lauder and the month long promotion by the NFL, everyone in America knew it was BCAM.  For many causes, there are no sponsors or groups to bring attention to them.  Long Term Care (LTC)is one of these causes.

     LTC is one of those topics that no one wants to think about or discuss, yet, almost everyone will need eventually, whether it be for themselves or a loved one.  Americans, by a general rule, do not like aging or thinking of themselves as old. They plan and save for so many things; children's college funds, a new house, vacations...and yes, many do save for retirement.  However, a sudden and permanent injury or the onset of a lengthy illness, may require that you or a spouse need long-term care.  This can happen well before you are prepared to stop working.  Medicare and most health insurance policies DO NOT cover long-term care. It is important that you are aware of your policy and those of family members. In many cases it is necessary to purchase a separate policy for LTC.  The cost of long-term care can be staggering 
    As is the case with all insurance, it is best to get it before you need it.  Just because you are feeling strong and healthy one day, does not indicate what tomorrow may bring.  As mentioned before, an accident or sudden illness my place you or a loved one in a position where medical care is needed for months, years or even the rest of your life.  The care recipient will no longer be able to earn wages and depending on the amount of care needed, nor will the family care giver. The other option would be to hire a professional, but the cost can be even greater.
     Because there is no one dominant agency that sponsors or promotes this need, it is important that you research your area to find out about insurance coverage options. It may also be beneficial to discuss your concerns with a professional financial planner who can direct you in preparing for future health care.  Ken Dychtwald, Ph.D. (Psychologist, Gerontologist & author)an expert on long-term care issues, has done a national study on the topic.  These are a few of the websites he considers very useful when looking for answers or information regarding LTC:

• www.longtermcare.gov
• www.caringtalk.com
• www.ResearchLTC.com

   Dr. Dychtwald goes on to state that he and his wife decided to purchase LTC insurance in their early 50's.  They found it to be cheaper because they were younger than most who sought out this particular coverage.  Through research, they were able to take advantage of special discounts; one for purchasing as a couple and another for being small business owners.  He calls his LTC policy "Peace of Mind Insurance."
     It is never too late to plan for the future. Unless you have already taken LTC into consideration for your retirement fund, look into your options and just as importantly, those of your loved ones.  In the end, someone is going to end up paying for long-term care.  Don't let it be you.

If you or a loved one has taken out a policy or found out later, they needed one, please leave us your comments.  By sharing your experiences, you may be able to help another prepare for a stronger future.